SAUDI GOVERNMENT TO FINALISE $533 MILLION PRIVATISATION DEALS IN 2019 - CROWN PRINCE

Saudi Arabia’s government will finalise privatisation agreements valued at SAR 2 billion ($533 million) before the end of 2019, the kingdom’s crown prince, Mohammed bin Salman, told Asharq Al-Awsat newspaper on Sunday.

The Saudi National Center for Privatization (NCP) is currently working on finalising privatisation deals in sectors that include flour mills as well as medical and shipping services, he added.

The privatisation programme is part of Saudi vision 2030 led by Mohammed bin Salman that aims to diversify the economy away from oil-revenue dependency and create jobs for Saudi youth.

The government will offer privatisation projects in the education sector with investments amounting to about SAR 1 billion in 2020.

In 2019, five deals with as much as SAR 12.5 billion in investments have been signed by local and international companies in several sectors with 70% foreign financing from six countries.

In addition, the private sector will be the largest investor in the electricity sector in the future, especially in power generation projects and major renewable energy projects.

Source: https://www.zawya.com/mena/en/business/story/Saudi_government_to_finalise_533mln_privatisation_deals_in_2019__Crown_Prince-SNG_146910407/